The Maharashtra chief minister Eknath Shinde has on March 5, 2024 approved the MMRDA’s Budget for FY2024-25 estimated at Rs 39, 453.04 crore. According to MMRDA’s official statement, the expenditure estimated is around Rs 46,921.29 crore and the deficit is around Rs 7,468.25 crore.
Around Rs 41,955.34 crore was allotted for the infrastruture projects. FY2024-25 Budget will fund projects including
- Metro Lines construction
- Thane Borivali Twin Tube Tunnel Road
- Underground Tunnel Road from Orange Gate to Marine Drive
- Versova–Virar Sea Link
- Thane Coastal Road
- Growth Centres
- Ramabai Ambedkar Nagar SRA
According to the MMRDA official statement, the Maharashtra government has facilitated the approval for raising loans to Rs 60,000 crore, while the proposal for raising an additional loan of Rs 30,000 crore is also received by the government. The additional loan amount will be systematically utilised to fund various infrastructure projects across the Mumbai Metropolitan Region (MMR). A loan of Rs 30,593 crore from the approved amount has been allocated by the State run-REC. Moreover, the government has guaranteed a loan of Rs 12,000 crore in the first tranche, while the proposal for the guarantee of Rs 12,000 crore in the second tranche is submitted for approval. Also, the proposal for a loan of Rs 50,301 crore has been approved by Power Finance Corporation Limited, as per the MMRDA.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |